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European Electronic Trading System Markets
Frost & Sullivan, July 2000
Changes in Pricing Structure Boost Markets
Changes are afoot among stock exchanges as systems are brought into the 21st century. The electronic trading systems (ETS) market is currently unsettled due to the recent activity amongst the stock exchanges. Demand in the trading industry and growing transaction volumes continue to push the market into uncharted territory. Future pricing structures will change dramatically. The ETS market is moving away from a license-based pricing strategy to a web access system that charges per transaction. The market is developing this way to take advantage of increasing trades and in reaction to investment bank demands.
This Frost & Sullivan report covers the ETS markets in Germany, the UK, France, Italy and Scandinavia. Each Segment is divided into the license system market and the per transaction market. Since trading is a global business run by large multinational banks, this report offers a final chance to examine European countries on a micro level. It offers insight into the nuances and future of each countrys financial system as it develops to accommodate glob-alisation.
Consolidation to Affect ETS and End Users Technological consolidation is going on throughout the market. In 1999, the market was fragmented between companies which offered either front office or back office solutions, or focused on a particular type of financial instrument, states Tom Fawcett, the author of this report. At present there are no companies which can offer a system to facilitate trading across all financial markets and operations. As we progress through the forecast period this will start to happen. Consolidation will also affect investment banks as they seek to become more competitive and look to new technology for advantages. Although consolidation will lead to fewer potential end users in the long run, for now, it can only inspire heightened competition. Each company is in a race to differentiate themselves from each other and become global leaders, says Fawcett.
Banking Industry Beginning to Embrace ETS The banking industry has been cautious thus far about transferring its trading onto web-based technology, Fawcett continues. Now that security and relia-bility issues have been dealt with, they are eager to take on ETS products. Banks now have clearer views of how they wish to progress with electronic trading.
This Frost & Sullivan report is the perfect opportunity for companies that want to take advantage of key market opportunities.
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